Odisha Vigilance secured another major conviction today in a loan fraud case involving officials of Baripada Urban Co-operative Bank Ltd. and a loanee from Rairangpur, Mayurbhanj.
The Hon’ble Special Judge, Vigilance, Baripada, convicted four individuals — Asutosh Mohanty, Former Branch Manager (Disengaged), Rairangpur Branch; Kantilal Mugree, Former Chief Executive (Retired), Baripada Urban Co-operative Bank Ltd.; Krupasindhu Mohanta, Ex-President of the same bank; and Salil Agarwal, Loanee from Rairangpur.
Odisha Vigilance had charge-sheeted them under Sections 13(2) read with 13(1)(c)(d) of the Prevention of Corruption Act, 1988, and Sections 418, 420, and 120-B IPC for misappropriating government funds exceeding Rs 15.58 lakh. The investigation revealed that the three bank officials favoured Agarwal and disbursed the loan based on fabricated documents and inadequate security, violating the bank’s loan policy.
The court sentenced each convict to three years of rigorous imprisonment and imposed a fine of Rs 30,000. Following the conviction, Odisha Vigilance will move the competent authority to stop the pension of Kantilal Mugree, the retired Chief Executive.
The Baripada loan fraud conviction underscores Vigilance’s ongoing crackdown on corruption and financial irregularities across Odisha.
